E. Ohman J or Asset Management AB Decreases Holdings in Fortinet, Inc. $FTNT

E. Ohman J or Asset Management AB lowered its position in Fortinet, Inc. (NASDAQ:FTNT) by 19.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 263,040 shares of the software maker’s stock after selling 63,436 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in Fortinet were worth $22,116,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in FTNT. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of Fortinet by 6.8% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,305,352 shares of the software maker’s stock worth $137,800,000 after acquiring an additional 82,937 shares in the last quarter. Warther Private Wealth LLC raised its stake in Fortinet by 39.7% during the second quarter. Warther Private Wealth LLC now owns 182,160 shares of the software maker’s stock valued at $19,258,000 after buying an additional 51,750 shares during the last quarter. Cooper Financial Group bought a new stake in Fortinet in the second quarter worth $2,653,000. Czech National Bank grew its stake in shares of Fortinet by 6.5% in the third quarter. Czech National Bank now owns 165,423 shares of the software maker’s stock worth $13,909,000 after acquiring an additional 10,135 shares during the last quarter. Finally, Mainstay Capital Management LLC ADV increased its holdings in shares of Fortinet by 105.8% during the second quarter. Mainstay Capital Management LLC ADV now owns 16,816 shares of the software maker’s stock valued at $1,778,000 after acquiring an additional 8,643 shares in the last quarter. 83.71% of the stock is owned by hedge funds and other institutional investors.

Fortinet Trading Up 0.5%

Shares of FTNT stock opened at $81.56 on Friday. The company has a current ratio of 1.03, a quick ratio of 0.94 and a debt-to-equity ratio of 0.68. Fortinet, Inc. has a 12-month low of $70.12 and a 12-month high of $114.82. The stock has a market capitalization of $60.65 billion, a P/E ratio of 33.56, a P/E/G ratio of 3.04 and a beta of 1.10. The firm’s 50 day moving average is $82.56 and its 200 day moving average is $87.82.

Fortinet (NASDAQ:FTNT) last announced its earnings results on Wednesday, November 5th. The software maker reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.11. The business had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.70 billion. Fortinet had a net margin of 28.58% and a return on equity of 118.27%. The company’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.63 EPS. Fortinet has set its FY 2025 guidance at 2.660-2.700 EPS and its Q4 2025 guidance at 0.730-0.750 EPS. Research analysts expect that Fortinet, Inc. will post 2.09 earnings per share for the current year.

Insider Transactions at Fortinet

In other news, VP Michael Xie sold 3,546 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $86.53, for a total transaction of $306,835.38. Following the completion of the sale, the vice president owned 10,492,018 shares of the company’s stock, valued at $907,874,317.54. This represents a 0.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ken Xie sold 158,485 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $86.51, for a total transaction of $13,710,537.35. Following the completion of the transaction, the chief executive officer owned 51,391,879 shares in the company, valued at $4,445,911,452.29. This trade represents a 0.31% decrease in their position. The disclosure for this sale is available in the SEC filing. 17.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on FTNT shares. Barclays dropped their price target on shares of Fortinet from $90.00 to $88.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 6th. TD Cowen cut their price target on shares of Fortinet from $105.00 to $100.00 and set a “hold” rating on the stock in a report on Thursday, November 6th. Daiwa Capital Markets downgraded shares of Fortinet from an “outperform” rating to a “neutral” rating and set a $86.00 price target for the company. in a research report on Wednesday, November 12th. Citigroup cut Fortinet from a “neutral” rating to a “mixed” rating in a research report on Monday, October 20th. Finally, Piper Sandler reduced their target price on Fortinet from $90.00 to $85.00 and set a “neutral” rating for the company in a report on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twenty-seven have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $90.11.

Fortinet Profile

Fortinet, Inc (NASDAQ: FTNT) is a multinational cybersecurity company that develops and delivers integrated security solutions for enterprise, service provider and government customers worldwide. Founded in 2000 and headquartered in Sunnyvale, California, the company was co‑founded by Ken Xie and Michael Xie. Ken Xie serves as chairman and chief executive officer, and the company operates through a global sales, channel and services organization to support customers across the Americas, EMEA and Asia‑Pacific.

Fortinet’s product portfolio centers on network security appliances and software, with its FortiGate next‑generation firewalls and the FortiOS operating system forming a core platform.